BTC, ETH, SOL See Significant Dips as Most Altcoins Get Struck With Losses

BTC’s current price is hovering around $20,069 (roughly Rs. 15.80 lakh) on international exchanges such as Binance and CoinMarketCap.

By Radhika Parashar | Updated: 30 June 2022 10:57 IST

BTC, ETH, SOL See Significant Dips as Most Altcoins Get Struck With Losses

Photo Credit: Pixabay/ Dean Crosby

The overall crypto market has stooped to $892 billion (roughly Rs. 70,43,820 crore)

Highlights

ETH is trading at $1,147 (roughly Rs. 90,589)
SOL saw dips of 7.71 percent
Experts believe investors should not lose hope

The overall crypto market registered a substantial dip on the last day of June 2022. Bitcoin encountered a loss of 2.27 percent on June 30. This brought its price to $21,111 (roughly Rs. 16.60 lakh) as per Indian exchange CoinSwitch Kuber. Similarly, dips of nearly two percent hit BTC on a global level as well. As per Binance and CoinMarketCap, BTC's current price is hovering around $20,069 (roughly Rs. 15.80 lakh). Bitcoin, however, is not the only crypto asset that seems to be struggling with losses.

Ether and Solana — both popular altcoins — found themselves impacted by dips of 5.36 percent and 7.71 percent respectively.

While ETH is trading at $1,147 (roughly Rs. 90,589), SOL is currently priced $34 (roughly Rs. 2,740), as per Gadgets 360's crypto price tracker.

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Binance Coin, Cardano, Ripple, Polkadot, Avalanche, and Polygon also joined BTC, ETH, and SOL on the loss trail.

Even stablecoins, such as Tether, USD Coin, and Binance USD also failed to swim against the market movement for gains and rather ended up seeing losses.

Shiba Inu, Dogecoin, Uniswap, and Cosmos managed to see small profits.

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The overall crypto market has stooped to $892 billion (roughly Rs. 70,43,820 crore) from what it was one day ago — $929 billion (roughly Rs. 73,11,028 crore).

“It is crucial that industry stakeholders not lose faith in the potential of crypto assets, and continue to build and develop products in support of the growth of the crypto ecosystem,” the CoinDCX research team told Gadgets 360.

Amid the ongoing crypto market slump meanwhile, the Russian parliament has rolled out approval on a draft law proposing a tax relief on issuers of digital assets and cryptocurrencies in the country.

In India, crypto adoption is seeing a gradual growth. Over 6,000 sign-ups have already been recorded in the first three weeks for the largest Tezos hackathon in Asia. Participants can win over $100,000 (roughly Rs. 79 lakh) in prizes and grants.

In the US, millennials continue to see crypto as a viable, long-term investment instrument and choose crypto investments over mutual funds, a report by Alto investment firm recently said.

Is Poco F4 5G a new best-of contender under Rs. 30,000? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Solana, Tether, USD Coin, Binance USD, Shiba Inu, Dogecoin, Cardano, Polkadot, Avalanche, Polygon, Uniswap, Cosmos

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More